MSCI rejigs global index: These stocks will get impacted

MSCI has revamped its global standard index, and the changes are effective from tomorrow. CNBC-TV18's Nimesh Shah explains the impact this will have on Indian stocks whose weightages will get affected. The announcements were done two weeks back. The changes will be effective from close of today. For four stocks, which got added to the MSCI Global standard index, Bajaj Finance, Havells India, Yes Bank and Titan, the biggest inflows will come in Bajaj Finance of USD 102 million whereas stocks like Titan and Yes Bank will see inflows of close to USD 100 million.

The bigger stock to watch would be Tata Motors. The company's free-float has increased, which should mean that that stock will see inflows of close to USD 240 million. That explains the kind of build up that has been seen in the F&O market as well.

In the smallcap indices, 23 stocks got added to the MSCI smallcap indices and eight stocks got deleted. The impacted ones, among others, are some public sector undertaking (PSU) bank stocks like Canara Bank, Bank of India (BoI).

There are a lot of these midcap stocks which have got added to the MSCI smallcap indices: SpiceJet, V-Guard, Supreme Industries.